Pacific West Bank had to change the front page of its website to clarify that it is unrelated to PacWest Bancorp, which is down 44% today.
We live in a simulation. pic.twitter.com/omekxBlqgm
— Genevieve Roch-Decter, CFA (@GRDecter) May 4, 2023
* MONEY MARKET HOLDINGS HIT A RECORD OF $5.31 trillion IN THE WEEK ENDING MAY 3: ICI
Up to $47 billion in one week, up to $100 billion in two weeks…the run on the bank is accelerating pic.twitter.com/t7kuYEF6nz
— zerohedge (@zerohedge) May 4, 2023
The bond market is now pricing in a 15.49% probability of a rate CUT at the June meeting.
This is a major change in just a few days 👇 pic.twitter.com/MWIUQBJoZ7
— Cheddar Flow (@CheddarFlow) May 4, 2023
The Fed’s difficult position is its own fault
Recessions don’t come out of nowhere. They have a cause: malinvestment fueled by central bank credit expansion. Artificially low interest rates send a false signal to investors and producers to start or continue producing things that customers don’t really want, at least not in the amount that is now being produced, and/or that cannot be completed with the ones available…
US officials weigh possible ‘manipulation’ of bank shares: source
Here we are again, 2008 on repeat. Predatory short sellers have found weakness in the banking sector and are exploiting that weakness for personal gain.
Do banks now get a special waiver to ban short sales of their shares like they did in 2008?
The acquisition of First Republic worsens the problem of the ‘too big to fail’ bank, and taxpayers will be in a bind, Elizabeth Warren said.
– unusual_ballenas (@unusual_ballenas) May 4, 2023